GLP Leases 68,600 sqm in East China
- Three leases totalling 52,600 sqm in Shanghai and a 16,000 sqm lease in Ningbo all cater to domestic consumption in China
Singapore, 9 April 2012 - Global Logistic Properties Limited (“GLP” or “the Company”), the market leader in modern logistics facilities in China and Japan, announced that it has seen strong leasing demand for GLP’s facilities with newly signed leasing agreements totalling 52,600 square metres (“sqm”) in Shanghai and 16,000 sqm in Ningbo.
“We have been seeing continuous strong demand for quality facilities from our customers, driven by sustained domestic consumption and shortage of supply,” said Mr. Kent Yang, Managing Director of GLP China. “We are pleased to see that GLP has become a long-term partner for many of our customers, providing integral logistics services in multiple locations across China and helping improve their supply-chain efficiency.”
The following list details the recently signed major new lease agreements in Shanghai. All customers cater to domestic consumption in China.
- 29,000 sqm leased at GLP Pudong Airport Park to Kintetsu World Express Inc. (“KWE”), a leading Japanese 3PL focused on airfreight forwarding, ocean freight forwarding and a full-range of logistics on a global scale. The facilities function as the main domestic national logistics distribution centre of KWE in China, providing a logistic platform for road transportation of electronic goods. As of March 2012, KWE occupied approximately 45,000 sqm of GLP logistic facilities in Beijing, Dalian, Shanghai, Suzhou and Wuxi.
- 20,000 sqm leased at GLP Park Hongqiao (West) to a leading global logistics company. Due to the strategically-located state-of-the-art logistic facility that offers convenient access to the highway and the airport, the customer decided to locate its East China distribution centre in GLP Park Hongqiao (West) for end-users from the e-commerce and retail industries. With this new lease, the long-term cooperation between the customer and GLP has been extended to four cities and approximately 99,000 sqm of logistic space.
- 3,600 sqm leased at GLP Park Meilong to Samsonite International Trading (Ningbo) Co. Ltd., the world's largest travel luggage company, to cater to its distribution demand in Shanghai. This is a new relationship for GLP.
In addition, GLP has also leased 16,000 sqm at GLP Park Beilun in Ningbo to Samsonite. It serves as a national distribution centre for Samsonite in China.
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[1] The initial public offering of the Company was sponsored by Citigroup Global Markets Singapore Pte. Ltd. and J.P. Morgan (S.E.A.) Limited (the “Joint Global Coordinators and Joint Issue Managers”). The Joint Global Coordinators and Joint Issue Managers assume no responsibility for the contents of this announcement
About Global Logistic Properties (www.glprop.com)
Global Logistic Properties (GLP) is Asia’s largest provider of modern logistics facilities. It owns, manages and leases out 435 completed properties in 162 logistics parks spread across 33 major cities in China and Japan, forming an efficient logistics network with properties strategically located in key logistics hubs, industrial zones and urban distribution centres. By providing flexible solutions of Multi-tenant, Build-to-Suit and Sale-and-Leaseback, GLP is dedicated to improving the supply chain efficiency for strategic expansion goals of the most dynamic manufacturers, retailers and 3rd party logistics companies in the world. The Group was listed on the Mainboard of Singapore Exchange Securities Trading Limited on 18 October 2010 (Stock code: MC0.SI).
Issued by: Global Logistic Properties Limited
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